China Rally Fades as News Flow Slows For a Day
Yesterday’s China stimulus rally continued though Asia Pacific markets overnight where Shanghai gained 1.1% and Hong Kong climbed 0.7%. The rally has faded this morning, however, particularly in commodities, where US Crude Oil is down 1.9% and Copper is down 0.01% amid questions over how much stimulus may be needed to get China’s economy going […]
China Stimulus Sparks Commodity Rally
Overnight, Governor Pan of the People’s Bank of China announced in a speech that China’s central bank plans to introduce a number of stimulus measures designed to help boost China’s economy and real estate sector including cuts to interest rates and a 0.50% reduction in the reserve requirement ratio for banks. Signs that the global […]
SIA Wealth Morning Minutes:Flash PMI Reports Signal a Slowing Global Economy
Flash PMI reports, the first quick peek at September economic conditions, have been disappointing. Both Flash Manufacturing and Flash Service numbers for Australia, Germany, France and the UK have declined from August, and the European numbers all came in below expectations. This could be seen as a sign of a broad slowdown in the global […]
Indices Pause To Digest Recent Gains, New High For Gold
Yesterday’s rally, which saw US indices gain 1.25% to 2.50%, continued through Asia Pacific trading overnight but has stalled this morning. In Europe, the Dax, FTSE and CAC are down 0.6%-0.8%, while US index futures are mixed between flat for Dow futures and a 0.2% dip for NASDAQ futures. Overall, it appears that some equity […]
Delayed Reaction to Big Fed Cut
Yesterday the Fed cut its benchmark Fed Funds rate by 0.50% which was more than the 0.25% cut that the street had expected. This sparked big swings in the markets sending the Dow and S&P to new highs, before a decline into the close left the three main US indices in the red for the […]
Traders Digest US Retail Sales
SIA Wealth Morning Minutes will not be issued tomorrow, it should return on Thursday September 19th. Stock markets are in rally mode today as traders await tomorrow’s US Fed interest rate decision, statement and FOMC member forecasts. The US central bank is still widely expected to announce a 0.25% interest rate cut. Ahead of the […]
Central Bank Week Starts Quietly
World markets are mixed to start the week. US index futures are split between a 0.2% gain for Dow futures, a 0.5% loss for NASDAQ futures and flat S&P futures. Asia Pacific trading saw the Hang Seng gain 0.3% and the Nikkei lose 0.7%. In Europe, the FTSE is flat and the Dax is down […]
New High For Gold as Central Banks Turn Dovish
The perpetual battle for dominance between hard money and paper money continues to shift in favor of hard money this week. Gold is trading at a new all-time high today up 0.6% and just below $2,600/oz while Silver is up 1.0% trading above $30.00/oz, and Platinum is up 0.9%, taking a run at $1,000/oz. The […]
Market Momentum Builds as ECB Cuts Rates
Yesterday’s US rally, which saw the NASDAQ soar 2.2%, has sparked a wave of buying in overseas markets. The Nikkei soared 3.4%, and the Hang Seng gained 0.8% in Asia Pacific trading, while in Europe, the Dax is up 1.2% and the FTSE is up 0.9%. US index futures are up 0.2%, while the 10-year […]
Oil Rebounds Between Inventory Reports
The price of crude oil, which sold off yesterday on concerns that slowing economic growth, particularly in China, could negatively impact demand, has bounced back a bit this morning, climbing 1.7% but remaining below $67.50/bbl/. Brent Crude has bounced 1.3%, regaining $70.00/bbl/. Some support came in after API reported a surprise 2.8 mbbl drawdown in […]